How our bill management services can help you grow your business

How our bill management services can help you grow your business Alex Robertson May 1, 2024

No-one (apart from us) gets into business to wrap themselves up in the joys of daily bill management. Many of our clients are in the creative and sporting industries – and that daily accounting stuff is just so far from where they want to be.

But, to grow a business or a career, that numbers work has to be done – and letting us do that time-consuming graft can free you up to do the work you really want to do.

Let’s face it, managing bills can be a tedious and error-prone process. All that manually entering bill information, including vendor details, due dates, and amounts, is time-consuming and prone to typos. All those checks, ensuring every detail is correct is crucial to avoid late payment penalties and potential service disruptions. And methodically choosing the best payment method, considering discounts for early payments, and scheduling timely payments all require attention.

All that, and maintaining a comprehensive and organised record of bills is essential for financial audits and cash flow analysis.

All that fun does tend to detract from core business activities. The sort of external daily bill management services we can provide can alleviate these burdens by providing a range of benefits.

1. Enhanced Efficiency and Time Savings:

We can utilise software solutions that we can provide at scale to automate data entry and verification, minimising mistakes, while our team handle the entire bill payment lifecycle, freeing up your in-house team to focus on the good stuff.

2. Improved Accuracy and Cost Control:

Automated data entry and verification minimises the risk of errors, leading to fewer late payments and penalties. We can also identify and leverage early payment discounts, negotiate better rates with suppliers, and ensure you never miss a discount opportunity. Our advanced systems can flag suspicious activity, helping you identify and prevent fraudulent charges.

3. Increased Visibility and Control:

And all that software we use means you can track spending, monitor upcoming payments, and make informed financial decisions. It also provides valuable data for budgeting and forecasting, giving you a clearer picture of your cash flow and enabling you to plan for future expenses, and can identify areas for cost savings.

4. Increased Security and Compliance:

We’re also used to the robust data security protocols you’re going to need to protect your sensitive financial information, while having a secure audit trail of all bills and payments, providing a clear and verifiable record for any financial audits. You know when we say you’ll need ‘meticulous record-keeping’? That can be our problem.

So, if you’re looking for someone who knows your industry, can keep up with you as your career and business boom and can keep your payments and data secured, then take a look. 

We might not be pretty, but we know what we’re doing.